Brokerages unafraid to innovate might have a leg up on brands that still do business the old fashioned way, spending thousands and thousands on print advertising. Take Compass & their re-imagined listing sign you will soon be seeing in Dallas (Photo: Compass)

I know, I know — we are a real estate blog focused on fabulous listings, deals, sleeper neighborhoods, fantastic agents and brokers, disruption in the industry, commissions, marketing your property, property taxes, and basically everything happening in the community that affects real estate values: yours, mine, and everyone’s.

But you simply must pay attention to what’s going on in the newspaper biz.

Many agents and brokers still, for some reason, insist on placing ads for their homes in weekly or daily newspapers despite research that shows it is no longer as effective a means of advertising as it once was. It’s the old school, blue-haired approach and more vitally, does it really help sell your client’s home? I know agents who still photo-copy newspaper articles and send them to me via snail-mail to “share.” 

We live in a digital world, like it or not. And real estate news and information is being consumed digitally. That’s why I thought you would find this article so interesting: (more…)

With the changes happening at the Dallas Morning News, will the new content still be built on the "Rock of Truth?"

Changes are happening at The Dallas Morning News

Despite this fact, Realtors spent $1.5 billion to market listings in print last year. I didn’t write this, but I sure have said it over and over and over again:

Agents and brokers keep using tired tactics that no longer produce results. Here’s a prime example: Despite the fact that only 1 percent of homebuyers found their home in print newspapers or traditional media, real estate agents spent $1.5 billion to market in newspapers last year.

Say you are buying a home, and you interview your real estate agent to ask what he or she is going to do to help market your home.

“I advertise it in the local newspaper and some magazines,” says Suzie Q. Agent.

Really? Does it work?

“Oh yes,” says Susie.

How do you know? Show me the numbers, baby, is what you need to say. Would you let your stockbroker choose a stock this way?

No way! You never really know who reads an ad. There is no way to share it, unless you clip it and snail mail it off to your grandmother. Agents tell me they mostly hear from friends who are NOT buying a house.

“Saw your ad, looks great.”

Isn’t that branding? And while I’m at it, does having your agent’s face on a billboard help sell homes?

So it comes with great sadness that I read how many fine, talented journalists are leaving the Dallas Morning News this fall because of the tremendous changes transforming the print industry to online: at least 40 of a total of 167 buyouts. Many of the journalists on this list will leave starting (shudder) Sept. 11:

(more…)